BIC ISBKDEFX
Your benefits:
Higher level of security compared to Documents against Payment
The payment is only made against the documents which must comply with all the requirements stated in the letter of credit
As an exporter you will have the possibility to receive your money even if the buyer is not willing or able to pay
As an importer, you will have the guarantee of receiving the goods by presenting shipping documents that are in compliance with the letter of credit
Additional financing opportunity: Letter of credit discounting
Our bank undertakes the payment liabilities of the importer subject to the exporter’s presentation of the document suitable with the letter of credit.
Features:
The importer of a good (the applicant) instructs his own bank – on the condition that the payment liability lies with him – to provide the exporter (the beneficiary of a letter of credit) with a letter of credit. Having a credit limit is a precondition.
The bank of the importer (issuing bank) issues the letter of credit to the benefit of the exporter’s bank as irrevocable credit. In the meantime, it assigns a bank in the exporter’s country as an advising or confirming bank for the operations. The bank which issues the letter of credit (issuing bank), thus, provides the exporter with the guarantee of the irrevocable credit subject to the presentation of the documents stated in the letter of credit in full.
- Export Letter of Credits
- Import Letter of Credits
